Corporate transparency

Adam L. Beberg beberg@mithral.com
Tue, 8 Jan 2002 18:35:05 -0800 (PST)


On Tue, 8 Jan 2002, Owen Byrne wrote:

> Economic torchbearer to the world. Please! Now that the NASDAQ pyramid scheme
> has collapsed and hitech companies are actually forced to respect GAAP (and
> kissing goodbye to profits)

People are still reporting pro-forma last I heard, tho I have been without
CNBC for a while.

> I think things are heading back to the early 90s
> where every economist in the US was trying to figure out why the US couldn't
> compete with Germany or Japan, or South Korea, or frankly, just about anyone.

Because we're the out-of-shapest, greediest, highest cost of livingest,
unablest to play well with others bastards on the face of the earth? Dah!

> Now assume that a mass publicity campaign results in 100,000,000
> corporations out there as each and every individual in the US goes out
> and registers as a corp. Suddenly the legal advantages of a corporation
> gradually disappear as investors and lendors adjust to the new reality.

Well of course, the point is to shift all the risk to the many while
shifting the gains to the few. You wanted dividends? Ha!. The few gain all
the money and control, while the workers are duped into thinking they have
it better then slaves.

The current "best practice" is to get some friends to build a HUGE
infrastructure, go bankrupt, then buy the wrackage for milli-cents on the
dollar. Everyone can't do that, someone has to be the sucker.

Where was that web site that showed the crosslinks between all the boards of
the fortune 500? The 500 companies actually only share about 200 board
members between them or something like that. If you're not born into it,
you'll never be in it.

- Adam L. "Duncan" Beberg
  http://www.mithral.com/~beberg/
  beberg@mithral.com